Trading with point and figure

[dashdbn]

There is one at 11950 some change

 

[Dentalfloss]

DAX since Valentines day

 

[Dentalfloss]

dax in supp now
aqua

11968 area is rez
11900 area is supp
11976 area is prev supp...big..ish rez

 

[Dentalfloss]

if 11900 fails then 11850..ish

 

[Dentalfloss]

bounce off our 11900 supp area
excellent

 

[Dentalfloss]

bounce off our 11900 supp area
excellent

stop tight now

 

[Dentalfloss]

stop tight now

stopped out for a few
retestretest 11.9K area again

 

[Dentalfloss]

eurusd in rez
usdcad in supp
usdjpy in supp
audusd bounced off rez
usdchf in supp
lookin like dollar might get bought..lets see

 

[Dentalfloss]

cable needs to get into 1.2650 area to test the bulls

 

[Dentalfloss]

11935 prev supp on 1 min candle
bounced off that
11880 firt supp area if 11.9 K breaks

 

[Moneylender]

Morning boss, are we back on the dax?

11910 to11900 is big supp then 11880, Dow still clinging to 20800!

 

[Dentalfloss]

** PLEASE NOTE: There will be no updates from me for the next 2 weeks,
and will resume gradually from Monday 13 March.


- Italy Orders, UK BBA Mortgage Approvals, Canada CPI and US New Home Sales
all unlikely to unseat politics and month end considerations as primary
drivers; BanColombia likely to hold rates

- ECB hawks pushing back on taper talk well worth noting, as Mnuchin
raises questions about Trump-flation trade

- Charts: Copper, Iron Ore, Aluminium, WTI Crude

..........................................................................

********************
** EVENTS PREVIEW **
********************

If the more 'macro' minded traders and investors are hoping for some salvation from the drum beat of political influences, then today's schedule of data and events will surely disappoint. Another array of national confidence surveys in Europe will be accompanied by Italian Industrial Orders, UK BBA Mortgage Approvals, Canadian CPI and US New Home Sales. Otherwise Colombia's central banks is seen holding rates again at 7.50%, given that it is likely to have been disappointed by the uptick in core CPI to 5.26% y/y in January, and all the more so given that end 2017 CPI consensus forecasts look for a 4.8% y/y, still well above BanColombia's 2.0-4.0% target range. On the political fall-out front, yesterday's follow through relief rally in French OATs on the Macron/Bayrou 'alliance' probably owed more to the broader rally in govt bonds as month end comes into focus, and as the Trump reflation trade saw some push back. It may also have owed something to comments from two of the ECB's arch hawks, Weidmann and Hansson, who unusually both pushed back very hard on the chances of the ECB tapering, with Mr Weidmann also suggesting that an initial ECB rate hike in 2019 was a reasonable expectation. Whether one attributes this level of moderation on the policy outlook to the array of political risks, or to concerns about the economic outlook, it does underline the point that the ECB really would like to sit this year out in policy terms, if it can. The Trump reflation trade push back also owed much to the comments from Treasury Secretary Mnuchin on timelines for corporate tax changes (sometime in August), and fiscal stimulus (not before 2018). Perhaps more interesting than the bond market reaction were the falls in industrial metals, above all Copper and Iron Ore, which have looked overheated relative to actual commercial activity demand for a considerable period - see attached charts.

from Marc Ostwald

 

[swissy]

eurusd in rez
usdcad in supp
usdjpy in supp
audusd bounced off rez
usdchf in supp
lookin like dollar might get bought..lets see

Agree. Sniffing this as well today.

looking for possible moves; audusd to sp 0.7650...look how it handles sp 0.77 for clues.
Cable; back to pivot 1.25 and possible move to 1.245..
Ftse in sp 7250..see how this is handled as it has been range bound for a while now...thinking a move back to 7300 region. If sp gives way 7220....
Oil WTI...rez today 5450 sp 5350 pivot 5400

lets see could be wrong on all counts...already in on cable and aussie though

 

[Dentalfloss]

if 11900 fails then 11850..ish

gotcha

 

[Dentalfloss]

Morning boss, are we back on the dax?

11910 to11900 is big supp then 11880, Dow still clinging to 20800!

dax was a tad overbought as we said a couple of days ago...needed to correct

 

[Dentalfloss]

11850..our supp area became rez....and dump
excellent

 

[swissy]

Agree. Sniffing this as well today.

looking for possible moves; audusd to sp 0.7650...look how it handles sp 0.77 for clues.
Cable; back to pivot 1.25 and possible move to 1.245..
Ftse in sp 7250..see how this is handled as it has been range bound for a while now...thinking a move back to 7300 region. If sp gives way 7220....
Oil WTI...rez today 5450 sp 5350 pivot 5400

lets see could be wrong on all counts...already in on cable and aussie though

Aussie going ok.....cable holding....lets see if US open can give some movement...

Ftse in that sp area 7220...lets see how it handles it....potential long if cable weakens

 

[Dentalfloss]

oil

 

[Moneylender]

11850..our supp area became rez....and dump
excellent

Nice drop down to 11835, took 75 pips closed in asda whilst doing the shopping!!

:clap::clap:

 

[Atilla]

Probability of hostile negotiations with the EU may bear down on both cable and FTSE.

Bearish on cable.